New Operating Hours Law To Transform Cyprus Hospitality Industry

by THEFUTURE.TEAM

February 16, 2026

Legislative Overhaul Targets Sectoral Modernization

The parliamentary Energy Committee is reviewing a proposal that could significantly reshape operating hours for hospitality and entertainment venues across Cyprus. The initiative also includes provisions for the establishment of recreational centres and is intended to close existing regulatory gaps while strengthening the competitiveness of the tourism and dining industries.

Industry Categorization and Operational Adjustments

The draft law introduces a new classification of service venues and adjusts operating schedules according to season. Following strong reactions from professional associations and other stakeholders, the government revised the bill before its submission for closed-door committee discussions. In line with parliamentary procedure, the detailed debate and final amendments will be decided exclusively by elected members of parliament.

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Seasonal Flexibility And Specific Amendments

Under the revised proposal, pubs and bars would operate on different seasonal timetables. From May 1 to September 30, opening hours would run from 7:00 AM to 2:30 AM on weekdays and Sundays, with an extension until 3:30 AM on Fridays and Saturdays. From October 1 to April 30, weekday and Sunday operations would end at 2:00 AM, while weekend hours would extend until 3:00 AM. These changes replace earlier rules that allowed restaurants, taverns, cafés, pizzerias and snack bars to operate from 6:00 AM to 1:30 AM.

Refined Hours For Entertainment Venues

The legislation also sets updated schedules for event halls, reception venues and music or dance centres. During the summer period, these establishments would be permitted to operate from 8:00 PM to 2:30 AM on weekdays and Sundays, with later closing times on weekends. In winter, weekday and Sunday operations would end at 2:00 AM, again with extended hours on Fridays and Saturdays. Earlier drafts proposed uniform early closures, but the revised version introduces more flexibility to better reflect market demand.

Local Authority Flexibility

Municipal councils would retain the right to temporarily adjust operating hours for recreational venues for up to six months per year. This provision is designed to give local authorities room to respond to tourism peaks, festivals or regional economic needs while maintaining a consistent national framework.

Final approval of the reform is expected to come from the full House of Representatives, with the bill scheduled for submission before the April session ahead of the upcoming parliamentary elections.

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Mercedes-Benz Posts Higher Profit Despite China Slowdown

by THEFUTURE.TEAM

July 29, 2026

Mercedes-Benz reported stronger-than-expected second-quarter results, lifting its shares on Tuesday despite mounting pressure from Chinese automakers and a weaker outlook for sales and revenue.

The earnings provided a boost for Europe’s auto sector, where manufacturers continue to grapple with tariffs, softer demand and intensifying competition from Chinese rivals. Volkswagen, Mercedes-Benz and BMW have all accelerated restructuring efforts in response.

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Cost Discipline Lifts Quarterly Profit

Mercedes-Benz shares rose as much as 5.9% following the results before trimming gains to trade 3.5% higher by 1118 GMT. The company reaffirmed its profit margin guidance for its core passenger car business after reporting an adjusted return on sales of 4.0% for the second quarter, above market expectations and within its 3% to 5% target range.

“In an environment where some automakers are ringing alarm bells on their competitive positioning, Mercedes delivered a clear and confident message,” Morningstar analyst Rella Suskin said.

Second-quarter operating profit increased 22% to €1.5 billion ($1.7 billion), despite a 3% decline in revenue. Lower administrative and research and development costs, together with strong performances from the financial services and vans divisions, supported earnings, while the results also included a €131 million gain related to the planned sale of leasing subsidiary Athlon.

China Remains The Key Pressure Point

Despite stronger profitability, Mercedes continues to face a challenging market environment. Sales in China fell 30% during the second quarter, prompting the company to abandon earlier expectations for stable car sales and group revenue. It now expects both to decline slightly from a year earlier.

BMW also lowered its outlook in June following a deeper-than-expected slowdown in China, highlighting the pressure facing Germany’s premium carmakers. At the same time, Mercedes said Chinese manufacturers are increasingly expanding into European markets, although Chief Executive Ola Kaellenius said their focus remains on higher-volume segments rather than the premium market.

“But that is not a reason to sit back and be relaxed,” he said.

Manufacturing Shift Continues

Mercedes is also reshaping its manufacturing footprint. The company said its German factories will undergo a more aggressive push toward leaner production, although it declined to provide further details while talks with labour representatives continue. Production is also being expanded in lower-cost Eastern European locations, including Hungary, where the company is increasing capacity at its Kecskemet plant, as well as in Poland.

Chief Financial Officer Harald Wilhelm said the full-year margin for the passenger car division is expected to come in at the lower end of the company’s guidance range, reflecting a higher share of electric vehicle sales in Europe, which remain more expensive to produce and continue to weigh on profitability.

“We must continue to work flat out to reduce costs so that we can remain competitive on the prices of our products,” Kaellenius said.

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